This study aimed to investigate factors influencing depressive symptoms among middle-aged women based on walking and nonwalking. The participants of the study were 56,007 women aged 40–64 years. A complex sample statistical analysis was conducted. Notably, 48.9% of middle-aged women were in the walking group and 51.1% were in the nonwalking. In the nonwalking group, relative to the walking group, more people had high school diploma as their highest level of education, and were 40-49 years old, unemployed, and public assistance recipients than in the walking group. In addition, in the nonwalking group, more people had sleeping durations of less than 7 hours, perceived stress, and depressive symptoms than in the walking group. Factors influencing depressive symptoms were identified as less than 7 hours of sleeping duration and high perceived stress in both the walking and nonwalking groups, and the degree of influence was higher in the walking group than in the non-walking group, suggesting than further studies are needed to identify the cause. The results confirmed that perceived stress and depressive symptoms in middle-aged women could be reduced by walking. Therefore, if middle-aged women continue to engage in walking practices appropriate for them, it will enhance their walking rate, reduce stress, and improve their depressive symptoms.